Economy

South African Reserve Bank. Photo courtesy Gauteng Tourism Authority

Gauteng is the economic dynamo of South Africa, generating an estimated third of the country’s gross domestic product.
The financial, mining and manufacturing industries are major players in the economy, but Gauteng is also attractive to other sectors, which realise the benefits of operating in a province with a stable economy and sound social development strategy.
Many financiers favour the province’s focused strategic vision and support for economic development, and numerous foreign and local banks, stock brokers and insurance companies have head offices in Gauteng.
Gauteng refashioned itself as a city region in 2008. As part of the city region philosophy, municipalities align their development strategies, eliminating competition and sharing assets and ideas on wealth and job creation and poverty alleviation.
The three metropolitan municipalities – the cities of Johannesburg and Tshwane, and Ekurhuleni – work together to tackle economic development and issues such as urbanisation and migration.

Economic growth in Gauteng is driven by organisations such as the Gauteng Economic Development Agency (Geda), which operates under the auspices of the Gauteng Department of Economic Development.
Geda’s mandate is “to maximise Gauteng’s booming economy by investing in and promoting the province in meaningful ways”.
Geda has the networks and resources to link investors with opportunities for growth and expansion within the province. For more information, visit the Geda website.

Another Gauteng provincial development initiative aims to capitalise on the success of the 2010 FIFA World Cup™, which was hosted by South Africa. The event greatly enhanced the province’s international profile.
Gauteng is continuing to build on the marketing and communication opportunities that came out of the World Cup, and is branding itself as an exciting and world-class tourist and investment destination.

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